This is especially true if you are poor. STAY AWAY from banks such as Bank of America, Citi, and any of the major banks. Bank local. Why? The major banks will screw you and they won’t care. The smaller local banks are less likely to do so (though they might).
I thought I’d share what happened to me. I had worked SOOO hard to get my credit score up by paying down all my credit cards. I have been forced into having multiple credit accounts because it’s the only way to have a credit cushion. If you care about credit score you need a cushion. I was doing well, got the whole thing down lower than 80%, was paying bills 100% (still do), and never missed a payment. Then, I had a large vet bill to pay. I had to max out the “little” credit cards I have, barely able to pay the bill. I’ll never forget that embarrassing day at the vet. I did not use the Big Bank Credit Card (which I have used very close to its upper limit anyway).
As expected, since I was using up that cushion, my credit score dropped. Down down down to the pits. FIFTY POINTS! Then, I had that seizure and during that time I went to pay a bill as usual BUT I had it set to the wrong “pay from” account. Oops! When you have a seizure it’s hard to think straight for a while afterward.
I corrected the problem IMMEDIATELY. However, this meant a reverse payment, which unfortunately, I’m still paying for. Yep, being punished for caring for a sick doggie and having a one-time seizure.
Big Bank is holding now holding onto my payment that I made a long time ago. It’s now been over a week and they have not released the money. I have written to them, called twice to assure them the payment has left and cleared the account, and still, NADA.
I explained the reason for the credit score drop and also the reason why I goofed the payment. Is a person allowed to be HUMAN?
Human error happens to the best of us. A wrong social security number means goofed billing. A wrong address means missed mail. Yet how many times has this been done to us? Consumers do not retaliate. And this is the exact same error! Human error. A mistake made because I wasn’t feeling well.
So FINALLY the woman on the phone (who was speaking WAYYY to fast, I kept reminding her but she continuously forgot, never mind I honestly cannot understand the accent, and I am not hard of hearing…) finally admitted to me she was clueless as to why my credit score dropped.
I stopped her and reiterated that I am well aware that it dropped due to a very large vet bill. Would it be better that I did not pay, and allowed my dog to die of infected teeth? And I am new in town, unware that the vet I went to is more expensive than the others (serving the wealthy, apparently). I entrusted Puzzle’s care to them and they did a good job. (At this point I will look for less expensive vet but then I was kinda cornered into the situation…)
I told the lady that I had explained this to their personnel ages ago, and explained the goof I did requiring a reverse payment. And I had thought this was all cleared up ages ago. This is ruining my credit score which has already been hurt by the vet bill.
Then she FINALLY admitted, “I don’t know why they’re holding onto your payment.” I asked to speak with the personnel above her in the “payment department” whom she should have referred me to in the first place.
However, these people are there to pat us on the back and assure us they’re on our side. They have yet to demonstrate this to me. This one tried the pat on the back approach and apparently was only feeding me lines until I realized I needed to go over her head.
They aren’t reading this, I’m sure. But you guys are. Remember this: Poverty may or may not suck, but either way, persistence always wins out.